CEOs, CFOs, and directors of Banks are buying their stock:
The regional banking panic that began last week has caused a drastic repricing of financial stocks.?
As selling pressure accelerates for a variety of vulnerable banks, executives are coming out and buying shares in an effort to shore up the volatility and put a vote of confidence in their stock.
Here’s the list of CEOs, CFOs, and directors of banks who filed Form 4s yesterday:
Here’s The Hot List, with data through March 13, 2023:
The filings from CUBI and MCB really stand out as the chief executive of each bank bought roughly half of a million dollars worth of shares during yesterday’s session.?
Both stocks rallied aggressively intraday and erased much of their earlier losses on these filing announcements.?
Kudos to these executives for showing great leadership through a crisis.?
In another Form 4, the CFO of Newell Brands Inc $NWL revealed the acquisition of 76,925 shares.
Adage Capital Partners filed a 13G revealing an increase in stake from 4.05% to 5.94% in Travere Therapeutics $TVTX.
Stay tuned. We’ll be back on Wednesday with more insider activity.
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All Star Charts Team
Senior Corporate Credit Analyst at Intesa Sanpaolo Bank Romania
1 年Fat Bank Managers ??
Corporate Treasury @ Surgery Partners (NASDAQ:SGRY) | former sell-side & buy-side equity analyst
1 年maybe not a bank in traditional sense but noto $sofi last week took down 180,000 shares midday friday. dont forget to add $schw today - ceo said on cnbc he bought 50k shares for his account monday (no form 4 yet, IR has until tomorrow to file edgar so take it w/grain salt - why he released mnpi info that way, no idea - bad IR team) - ive been going nuts myself buying some of these banks $frc went down at one point to 4x PE and .2x ttm tangible book - what a gift.